Primary Producer Tax Deductions

Potential Tax Deductions

 

 Primary Producer’s

  • Agistment fees
  • Breeding services fees
  • Droving expenses
  • Electricity connection costs
  • Farm management deposits
  • Fertiliser/Fodder
  • Grapevine establishment costs
  • Hire of farm implements
  • Horticultural plantation establishment
  • Insecticides, weedkillers, rabbit fumigant
  • Insurance premiums
  • Landcare expenditure
  • Lease preparation expenses
  • Mains electricity connections
  • Payment to co-ops for business services
  • Power, fuel, light
  • Rates and land taxes
  • Seeds
  • Shearing expenses
  • Telephone line expenses
  • Timber felling deduction
  • Vaccination against Q fever
  • Veterinary fees
  • Water facility expenditure
  • Wool tax
  • Timber depletion
  • Trees, purchased in immature forest or plantation and sold standing

 

GENERAL RULES TO BEAR IN MIND

To help me get you the best possible result with your tax deductions we need to:

• Keep receipts for a minimum of 5 years

• Keep diary entries of meetings and decisions reached. This justifies your claim in some cases

• Keep a travel diary when you travel on business purposes. This should include an agenda for your trip, names and places of people met, and a report of conclusions reached.

 
Disclaimer : Information contained in this article represent general comments only and this is not advice. Tax is only one of the factors that should be taken into account when making a financial decision. You should discuss your tax affairs with a tax professional before entering into any financial transaction with tax implications.